Key developments to markets on Tuesday: |
|
| Index | Last | Change | % Change |
|---|---|---|---|
|
trading lower
|
44,546.08 | -165.35 | 0.37%Negative |
|
trading higher
Nasdaq Composite Index
.IXIC |
20,026.77 | +81.13 | 0.41%Positive |
|
trading lower
S&P 500 Index
.SPX |
6,114.63 | -0.44 | 0.01%Negative |
| Index | Last | Change | % Change |
|---|---|---|---|
|
trading higher
Nikkei Index
.N225 |
39,266.52 | +92.27 | 0.24%Positive |
|
unchanged
Hang Seng Index
.HSI |
22,616.23 | — | — |
|
trading higher
S&P BSE SENSEX Index
.BSESN |
75,996.86 | +57.65 | 0.08%Positive |
RBA expected quarter-point cut to its cash rate to 4.10%, its first reduction in over four years.
Recent inflation and wage growth data have surprised to the upside, but BOJ cautious about raising rates after decades of deflation and ultra-loose policy. 2-year and 10-year JGB yields highest since 2008 and have risen sharply in recent months.
Chinese markets rebound continue, tech shares hitting 3-year high on Monday as President Xi sat down with top tech leaders in Beijing. Hang Seng tech index is up more than 30% in a month. Baidu shares plunged on Monday, wiping $2.4 billion off its market value after its founder was not spotted at the meeting.
Geopolitical developments around America’s ties with Europe and President Trump’s role in brokering a truce between Ukraine and Russia.
Any peace deal – may boost risk appetite, and weigh on USD and oil in short term. But the wider implications of a fracturing of 80 years of solid U.S.-European relations since WWII could raise risk premia across markets in the long term.
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